Batelco’s profits soar 25 percent in the first-half of 2000
(AFP, Manama) – The Bahrain Telecommunications Co. (Batelco) has made a net profit of 27.7 million Bahraini Dinars ($72.6 million) in the first six months of the year 2000, soaring 25 percent from the same period last year, the Gulf Daily News said Tuesday.
Total revenues also increased, up 10 percent to 73.1 million Bahraini Dinars ($191.5 million). Batelco, which has a monopoly on telecom in the Gulf archipelago state, said profits were due to rising demand for new lines, Internet and pre-paid cards.
The company has also reduced tariffs applied to Internet data communications and integrated messaging services, as well as cutting charges on international telephone calls for the fifth time in the past three years.
Mobile phone users rose to 24 percent of the 650,000 population, largely due to the SimSim prepaid service, which celebrated its 100,000th customer in June, it said.
The government has a 39 percent stake in Batelco, with Britain's Cable and Wireless holding 20 percent and the remaining 41 percent publicly traded.
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com)